Posts Tagged ‘oil inventories’

Oil rises to $73 on expectation of OPEC cut

October 20th, 2008

SINGAPORE – Oil prices rose to $73 a barrel in Asia on Monday on expectations that OPEC will cut production quotas at an extraordinary meeting later this week.
Light, sweet crude for November delivery rose $1.16 to $73.01 a barrel in electronic trading on the New York Mercantile Exchange by midday in Singapore. The contract Friday [...]

US heating oil up 90 cents from year ago at $3.67 a gallon

October 12th, 2008

United States - By Tom Doggett
WASHINGTON (Reuters) - As the U.S. heating season gets underway, the average price that homeowners paid for heating oil was $3.67 per gallon this week, the government said Wednesday.
The nationwide heating oil price is 90 cents higher than a year ago, according the federal Energy Information Administration’s weekly [...]

Crude oil reaches new intraday low

October 9th, 2008

Gregory Meyer
CRUDE oil futures ended down overnight after notching a fresh intraday low for the year on perceptions demand will slow.
Light, sweet crude for November delivery settled down $US1.11, or 1.2 per cent, at $US88.95 a barrel on the New York Mercantile Exchange yesterday.
Brent crude on the ICE futures exchange settled 30c lower at $US84.36 [...]

Oil prices trim losses after cuts to interest rates

October 8th, 2008

LONDON (AFP) — Oil prices Wednesday trimmed losses and pulled away from one-year lows after major central banks surprisingly slashed interest rates in a coordinated move aimed at rescuing the flagging global economy.
New York’s main contract, light sweet crude for delivery in November, was down 62 cents to 89.44 dollars a barrel.
London’s Brent North Sea [...]